Orchard Parade Hotel: CIMB has Technical Buy Call. Note that stock is forming a triangle pattern but this is a running triangle instead of a symmetrical as above. Tip that prices are now at its tail end of this consolidation and should soon kick upwards from here…
MACD is now falling at a slower rate as it approaches the zero line while RSI is now flat above the 50-pts mark. Both support the triangle view. Recommend aggressive traders to go in now for a short term buy but place a tight stop below $1.52. A breakout above $1.60 would likely see prices shoot towards $1.75 and possibly $1.84.
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